A whale purchased 1.79 million Fartcoin worth $1.72 million after withdrawing USDC from Binance.
Fartcoin price fell 3.57% to $0.9143, showing volatility with an intraday high above $0.98.
The daily chart shows a double top pattern, with critical support at $0.80–$0.88 and downside targets at $0.57, $0.35, and $0.24.
A large investor executed a significant move involving Binance and FARTCOIN on Monday. The whale withdrew $1.72 million worth of USDC from Binance, as confirmed by an X post on X by On Chain Lens.
https://twitter.com/OnchainLens/status/1957008543518978308
Immediately after the withdrawal, the funds were directed toward acquiring FARTCOIN. The purchase amounted to 1.79 million tokens. The transaction took place at a unit price of $0.96, placing the total deal near $1.72 million.
FARTCOIN Current Market Action
A look at the ongoing market trend at the time of press using CoinMarketCap indicates that Fartcoin traded at $0.9143, recording a 3.57% decline over the past 24 hours. The price chart shows movement starting near $0.9487 before experiencing fluctuations throughout the trading period. During the day, the token peaked above $0.98 but failed to sustain higher levels.
Source: CoinMarketCap
After reaching the intraday top, Fartcoin experienced a steady downward trend leading into the early morning hours. The token dropped sharply below $0.92, reaching the lowest levels observed during the session. Trading activity displayed noticeable volatility, with rapid swings between short recoveries and sharp declines. The overall daily performance remained negative, closing closer to $0.914, signaling continued pressure on the token’s valuation.
Fartcoin Daily Chart Reveals Double Top Structure
An analysis prepared by Nehal reveals that Fartcoin’s trading activity has developed a double top pattern visible on the daily chart. The token reached highs near $1.60 in June and August before reversing downward. Following the August peak, prices fell consistently, breaking earlier higher lows and moving toward mid-August levels.
Source: X
At present is holding slightly above a critical support zone between $0.80 and $0.88. This area marks the neckline of the double top pattern, serving as the key level for market direction. If the price moves below this support, further declines could emerge toward projected levels of $0.57, $0.35, and $0.24. These points mark potential consolidation zones if selling momentum continues.
Yellow trendlines outline a series of lower highs and lower lows after the August reversal. Each recovery attempt displayed weaker strength, reflecting consistent downward moves across recent sessions. From February through August, trading showed strong rallies quickly followed by steep corrections, shaping the broader pattern now evident. Market structure continues to emphasize the importance of the $0.80 to $0.88 range. Fartcoin’s current alignment with the double top formation places ongoing pressure on price levels moving forward.
